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[TO BE PUBLISHED IN THE GAZZETE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] Government of India Ministry of Finance (Department of Revenue) Notification No. 02/2020- Central Tax (Rate) New Delhi, the 26 th March, 2020 G.S.R......(E).- In exercise of the powers conferred by sub-section (1), (3) and sub-section (4) of section 9, sub-section (1) of section 11, sub-section (5) of section 15 and section 148 of the Central Goods and Services Tax Act, 2017 (12 of 2
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FAQ :
The main change is the reduction of the Central Goods and Services Tax (CGST) rate on Maintenance, Repair, and Overhaul (MRO) services for aircraft from 18% to 5%.
No, the notification states that the reduction in CGST rate is accompanied by full Input Tax Credit (ITC).
This notification amends Notification No. 11/2017-Central Tax (Rate) dated 28th June, 2017.
The services affected are Maintenance, Repair, and Overhaul (MRO) services specifically in respect of aircraft.
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Notification No : 02/2020-Central Tax (Rate)Published in GST
Source : http://www.cbic.gov.in/htdocs-cbec/gst/notfctn-02-2020-cgst-rate-english.pdf